Question

Is Globalization impacting the business around the corner? For good or for bad? Is it an opportunity or a threat? Has Globalization changed the world on the positive?

Answer 1

For many developing nations, globalization has led to an improvement in standard of living through improved roads and transportation, improved health care, and improved education due to the global expansion of corporations. However, globalization has had a negative effect on individuals who live in developed nations. It is impacting the business in the whole world in a positive way and in a negative way as well. Because, globalization needs open economies for uninterrupted trade all over the world. Because of this, there are many issues, which countries have to face in their economy. Developed nations become dominant in this case just like China is dominating all the other countries in trade sector.

It is an opportunity as well as a threat because a country can import those items which can't be developed in that country and export its own products all over the world. But cheap imports in that country destroy its economy because value of its decrease in comparison to those imported cheap products. Export of products make better economy. So there are both sides positive as well as negative.

Yes, globalization has changes the world on the positive because many under developed countries made their economy better by exporting and importing goods. Like India opened its economy in 1992 and now its products can be exported all over the world.